Consolidation Information

We have designed the information below to answer questions you may have about federal loan consolidation but it is only a guide. Ultimately you will have to determine whether consolidation meets all, or some, of your loan repayment concerns. If you have questions about consolidation then we recommend you speak with your lender(s). However, you are welcome to email the financial aid office at finaid@law.msu.edu as well.

Before you consolidate, you should weigh the benefits and drawbacks of consolidation:

Benefits of consolidation:

Lock in your interest rate

When you consolidate, your lender will use the interest rates on all of the loan you include in the consolidation and calculate a new fixed interest rate that is weighted to the nearest 1/8th percent.

Bring multiple loans to one loan servicer

Consolidation may make your repayment easier because you will have one lender. You will also have one lender through which you will file for deferment and forbearance.